Wednesday, October 17, 2012 12:03:34 AM
Blueknight Energy Partners, L.P. (NASDAQ: BKEP) ("BKEP" or the "Partnership"), a midstream energy company focused on providing integrated services for companies engaged in the
production, distribution and marketing of crude oil, asphalt and other petroleum products, today announced that it has commenced its previously-announced rights offering. The Partnership has distributed, at no charge, to the common unitholders of record as of the close of business on September 27, 2011 (the "Record Date") 0.5412 freely-tradable rights (each a "Right" and collectively the "Rights") for every common unit owned on the Record Date. Each whole Right entitles the holder thereof to acquire, for an exercise price of $6.50, a newly-issued Series A Preferred Unit of the Partnership (the "Basic Subscription Right"). In addition, holders of the Rights will be entitled, subject to limitations, to subscribe for additional Series A Preferred Units that remain unsubscribed as a result of any unexercised Basic Subscription Rights at a subscription price of $6.50 per unit, as described more fully in the prospectus supplement that the Partnership filed with the Securities and Exchange Commission on September 27, 2011.
The Rights will begin trading on the NASDAQ Global Market on October 3, 2011 under the symbol "BKEPR" and can be traded until the close of business on October 31, 2011, the expiration date of the rights offering, unless the rights offering is extended. Any Rights that are not exercised on or before October 31, 2011, unless the rights offering is extended, will expire and have no further value. The rights offering will be made only by means of the prospectus supplement, which the Partnership filed with the Securities and Exchange Commission on September 27, 2011.
About Blueknight Energy Partners, L.P. BKEP owns and operates a diversified portfolio of complementary midstream energy assets
consisting of approximately 8.1 million barrels of crude oil storage located in Oklahoma and Texas, approximately 6.7 million barrels of which are located at the Cushing Oklahoma Interchange, approximately 1,285 miles of crude oil pipeline located primarily in Oklahoma and Texas, approximately 300 crude oil transportation and oilfield services vehicles deployed in Kansas, Colorado, New Mexico, Oklahoma and Texas and approximately 7.4 million barrels of combined asphalt product and residual fuel oil storage located at 45 terminals in 22 states. BKEP provides integrated services for companies engaged in the production, distribution and
marketing of crude oil, asphalt and other petroleum products. BKEP is based in Oklahoma City, Oklahoma and Tulsa, Oklahoma.
For more information, visit the Partnership's web site at
www.bkep.com.
BKEP Investor Relations
918-237-4032
investor@bkep.com
or
BKEP Media Contact:
Brent Gooden, 405-715-3232
or 405-818-1900
*PDF version above
http://investor.bkep.com/profiles/investor/ResLibraryView.asp?BzID=1505&ResLibraryID=47288&Category=1029
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